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Annual Report - Financial Statements

 

Year End 2010 Independent Auditor's Report (PDF)

2010 Sales of Electricity
Customer Class	Accounts	kWh Sold	$ Revenue
Regular Residential	12,051	177,112,225	$13,537,636
Seasonal Residential	6,331	48,428,846	4,239,876
Small Commercial	2,046	79,625,084	5,477,956
Large Commercial	71	36,161,834	2,034,079
Industrial	14	111,923,565	5,064,580
Lighting & Other		4,832,149	390,100
Total	20,513	458,083,703	30,744,227

2010 Expenses
Power Supply Expense	50.9%
Operating Expense	36.3%
Depreciation	8.1%
Taxes	2.5%
Interest on LT Debt	2.2%
	100.0%

2010 Sales of Electricity
Regular Residential	44.0%
Seasonal Residential	13.8%
Small Commercial	17.8%
Large Commercial	6.6%
Industrial	16.5%
Lighting & Other	1.3%
	100.0%

 

Operating Statement
		2010	2009
Revenues:
	Sales of Electricity	30,744,228	29,796,352
	Other Sales Revenue	342,695	338,325
	Interest & Other Income	60,371	115,248
Total Revenues		31,147,294	30,249,925
Expenses:
	Power Supply Expense	15,042,543	14,758,958
	Operating Expense	10,713,749	10,597,414
	Depreciation	2,379,022	2,030,529
	Taxes	744,474	694,453
	Interest on Long-Term Debt	646,986	816,693
Total Expenses		29,526,774	28,898,047
Net Margins		$1,620,520	$1,351,878

 

Balance Sheet

		2010	2009
Assets:
	Net Utility Plant	$60,997,358	$58,655,251
	Reserve Funds	5,793,695	5,768,845
	Current Assets	5,807,686	7,531,852
	Other Assets	1,492,446	1,304,483
Total Assets		$74,091,185	$73,260,431
Liabilities & Net Assets:
	Long-Term Debt	$22,903,597	$23,878,353
	Other Liabilities	6,126,591	5,941,601
Total Liabilities		29,030,188	29,819,954
	Restricted Net Assets	6,432,840	6,349,397
	Unrestricted Net Assets	38,628,157	37,091,080
Total Liabilities & Net Assets		$74,091,185	$73,260,431